Steel Rebar Futures Lowest in Two Years Impacted by China’s Dynamic Zero-COVID Policy

Steel rebar futures fell to the lowest in two-years Monday at CNY 3,650 per tonne. Deepening recession fears and heavy losses in Chinese bonds and stocks following the reelection of President Xi. Steel rebar and Iron ore futures have been a clear leader from the early days of the raw materials rally. They are also the most volatile. Volatility is fed multiple things, the property sector, energy prices, interest rates, COVID policy and the ongoing trade war between the world’s biggest … Continue reading “Steel Rebar Futures Lowest in Two Years Impacted by China’s Dynamic Zero-COVID Policy”

Chinese Dalian Iron Ore Futures Continue To Correct From Record Highs on Emissions

Dalian iron ore futures are down another 3% over continued concern over new emissions restrictions in the major steelmaking hub Tangshan Today’s move follows Friday’s sell off as investors optimism soured over Chinese demand. China is the world’s biggest steel producer.

America Exempts ‘The Great Nation of Australia” From Tariffs

U.S. President Trump announced that Australia would not be subject to the newly implemented American tariffs on steel and aluminum. Australia had used diplomatic pressure to save Australian steel. Trump said he will spare “the great nation of Australia” from the import levy.

US Signs in Steel and Aluminum Tariffs, Exempts NAFTA Partners

President Donald Trump as expected signed into law tariffs on steel and aluminum in a move he feels will recharge American industry. The deal exempts NAFTA partners Canada and Mexico as expected. National security was also cited as part of the decision.